The Wall Street Journal reported that businesses are aggressively pushing consumers to pay bills electronically. Numerous banks dropped their monthly fees for online bill paying, and many merchants are offering incentives for customers to sign up for online bill payment. Aside from the direct cost savings to businesses, such as lower postage and other administrative costs, what other reason might explain the interest in online bill payment?
(Answer provided in approximately 100 words.)© BrainMass Inc. brainmass.com October 10, 2019, 5:38 am ad1c9bdddf
Other reason might explain business's interest in online bill payment:
1) Decrease in average collection period
This solution discusses reasons for which many businesses are encouraging their customers to pay bills electronically.